Statement by H.E. Ms. Junhong Chang, the Assistant Minister of Finance of the People’s Republic of China and the Temporary Alternate Governor for China to NDB at the Opening Session of the 11th Board of Governors Annual Meeting

First of all, I would like to extend warm congratulations on the convening of the Eleventh Annual Meeting of the New Development Bank (NDB). I also wish to express sincere gratitude to the Government of the Russian Federation and the NDB for their hospitalities and thoughtful arrangements.

Chinese President Xi Jinping and leaders of other BRICS countries attach great importance to the establishment, operation and development of the NDB, and have provided important guidance on many occasions. In April 2025, President Xi Jinping paid a visit to the NDB headquarters, fully affirming the NDB’s achievements over the past decade and expressing expectations for the NDB to embark on its second “Golden Decade” of high-quality development. We are pleased to see that under the leadership of Madam President Rousseff, the NDB’s international influence and capacity to promote development have continued to grow.

At present, global economic recovery remains sluggish, the international situation is complex and volatile, and the world has entered a new period of turbulence and transformation with rising uncertainty and instability. Against this backdrop, the NDB should uphold the BRICS Spirit of openness, inclusiveness and win-win cooperation, and strive to become a strong and most reliable development partner for BRICS countries and the Global South on their paths to modernization. In this regard, I would like to put forward three proposals:

First, set strategic direction and development priorities. Formulating a new General Strategy is of great significance for the NDB to stay on the right track in the next five years. The new round of technological revolution has created new demand for global development financing. The NDB should continue to improve its business model to better serve the Global South, with an aim of becoming a bigger, better and more efficient MDB for the 21st century.